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Changes good for Guangdong textiles – Experts
Jun '08
Since the beginning of 2008, Guangdong textile industry has seen many changes. This is largest textile and garment export province in China and is famed for its clothing products.

Official data shows that in the initial months of this year thousands of garment export companies have given up the business to venture into other sectors like real-estate and retail. On the other hand, scores of new enterprises have entered textile field.

According to Guangzhou Customs statistics, during January to April 2008, Guangdong had 9,853 enterprises dealing in clothing exports, of which 3,654 were new projects with no export record during the same time last year.

Meanwhile, 3665 export enterprises had registered exports during the corresponding period of 2007, but had no such record this year.

Thus, it shows that number of withdrawing companies and entering ventures in garment exports is almost the same.

From January to May 2008, China's exports of clothing and clothing accessories reached US $40.09 billion, a year-on-year increase of 9.3 percent.

Of these, exports from Guangdong were $8.62 billion, down 21.8 percent. Especially the May exports marked substantial decrease of 30.6 percent to touch $2.48 billion.

Experts believe that these structural and administrative adjustments are good for the Guangdong garment industry. These changes are bound to encourage quality products, which will, inturn, boost exports.

Fibre2fashion News Desk - China

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